Earnings Call Excerpt
Jabil Circuit, Inc., (JBL)
Q3 2006 Earnings Conference Call
June 21, 2006, 4:30 p.m. ET
Executives:
Beth Walters, VP IR and Corporate Communications
Forbes Alexander, CFO
Tim Main, President, CEO
Analysts:
Steven Fox, Merrill Lynch
Scott Craig, Banc of America
Thomas Dinges, JP Morgan
Lou Miscioscia, SG Cowen
Kevin Kessel, Bear Stearns
Michael Walker, Credit Suisse
Brian White, Jeffries & Company
Matt Sheerin, Thomas Weisel Partners
Alexander Blanton, Ingalls & Snyder
Shawn Severson, Raymond James
Presentation
Operator
Good afternoon, my name is Meredith and I’ll be your conference operator. At this time I would like to welcome everyone to the Jabil Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question and answer session. If you would like to ask a question during this simply press ?*? then the number ?1? on your telephone keypad. If you would like to withdraw your question press the ?#? key. Thank you. I would now like to conference over to Beth Walters, Vice President of Communication and Investor Relations, please go ahead mam.
Beth Walters, VP IR and Corporate Communications
Thank you. Welcome to our third quarter earnings call. Joining me today on the call are our President and Chief Executive Officer, Tim Main, and our Chief Financial Officer, Forbes Alexander. This call is being recorded and will be posted for audio playback on the Jabil website in the investor section along with today’s press release and a slide show presentation on the third quarter and fiscal year.
During the course of this conference call we will make forward looking statements including notes regarding the anticipated outlook for our business, our currently expected fourth quarter and full fiscal year 2006 results, our first quarter fiscal year 2007 revenues and core operating margins, and our long-term outlook for our Company, our industry, our business sectors, and our potential realignment of our manufacturing capacity and the related cost and timing.
These statements are based on current expectations, forecasts, and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include but are not limited to fluctuations and operating results, the results of the review of our past stock option grants being conducted by a special committee of our board and government authorities, the accuracy of the stated dates of our historical option grants, and whether all proper corporate and other procedure were followed, the impact of any restatement of financial statements of the Company or other actions that maybe taken as required as a result of such reviews. Risks and costs inherent in litigation including that related to the Company’s stock option grants or any restatement of the financial statements of the Company, whether we will realign our capacity and any such activity will adversely affect our cost structure, our ability to service customers and labor relations, our ability to effectively address certain operational issues that have adversely affected certain of our U.S. operations, changes in technology, competition, anticipated growth for us and our industry that may not occur, managing rapid growth, managing any rapid declines in customer demand that may occur, our ability to successfully consummate acquisitions, manage the integration of businesses we acquire, risks associated with international sales and operations, retaining key personnel, our dependence on a limited number of large customers, business, and competitive factors generally affecting the electronic manufacturing services industry, our customers and our business, and other factors that we may not have currently identified or quantified and other risks, relevant factors, and uncertainties identified in our annual report on Form 10-K for the fiscal year ended August 31, 2005, subsequent reports on Form 10-Q and Form 8-K and our Securities filing. Jabil disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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